Online living trust – create a living trust – nolo electricity for dummies amazon

You can use a living trust to leave your property to others. You make the trust document, sign it in front of a notary public, and then transfer your property into the trust. During your life you, as the trustee, have complete control over the property in your trust. When you die, the person you named as "successor trustee" passes your trust property to the people you named as beneficiaries.

If you have valuable property, such as a house or large bank accounts, using a living trust to avoid probate may save your family time and money. On the other hand, if you have only a modest estate you may not need a living trust — a basic will may be enough. Depending on your state’s laws, your property may be able to go through simplified probate procedures for "small estates."

If you did not make your trust with Nolo’s Online Living Trust (or you did, but your subscription expired), then you can either 1) amend your existing trust using a Living Trust Amendment, or 2) revoke your existing trust using a Living Trust Revocation and make a new one.

Yes, you always need a will. A will provides a backup plan for any property that doesn’t make it into your trust. For example, if you acquire new property and don’t add it to your trust before you die, that property won’t pass under the terms of the trust document. You can use a will to name someone to inherit property that you haven’t left to a particular person or entity in your trust.

The main drawback to a living trust is paperwork. Making the trust document itself is no more difficult than making a will. But unlike a will, you must get a trust notarized, and you must make sure that ownership of all the property you listed in the trust document is legally transferred to you as trustee of the trust.

But if an item has a title document — real estate, stocks, mutual funds, bonds, money market accounts or vehicles, for example — you must create a new title document to show that the property is held in trust. For example, if you want to put your house into your living trust, you must prepare and sign a new deed, transferring ownership to yourself as trustee of the trust.

In addition to a living trust, you might consider making: a will, a health care directive (to appoint someone to make health-related decisions if you become too ill to do it) and a power of attorney (to allow a trusted person to arrange your affairs if you can’t). Learn more about these documents and how they can help your family at www.nolo.com.

• Transfer property into your trust. How long this takes depends on what type of property you put in your trust. Items without title documents are transferred by the Assignment of Property form that prints out with your trust document. However, items with title documents — like real estate, cars or stocks — may take a few weeks to transfer because you must have the title documents changed.

Nolo stores your personal information for the length of your subscription. During that time, you can return to Nolo’s Online Legal Forms to revise your living trust by making an amended and restated living trust. You can also return to Nolo’s Online Legal Forms to print a certification or a revocation of trust at no additional charge.

You have access to your Online Living Trust for a year from the purchase date. During that time, you can revise your trust (this is called amending and restating your trust), create a certification for your trust, or create a revocation for your trust.

Making a trust requires thought and attention to detail, but it does not require a law degree. We’ll walk you step-by-step through the process of making your own living trust, giving you help on every screen. And if a situation arises in which you might benefit from the advice of a lawyer or other expert, we’ll be the first to tell you.

We had recently attended a Living Trust seminar, where "professionals" offered to prepare our simple trust (only one tract home, a car and normal household possessions) for about $3,000. It seemed the right way to avoid wills and probates, but we did not have the money to do it. Then someone recommended this online software. In spite of my being on the verge of turning 80, I decided to tackle it. I was amazed how simple it was to purchase and to use. From the seminar I had some idea of the variables, and decisions that would have to be made. At every turn, and with each question in Nolo’s interview process, the options were presented with simple explanations of the ramifications of each choice we might make. With Nolo’s simple guidance, we were never in doubt as to what choice we should make. And occasionally, when I felt a desire to learn more about legalities, they always had a link or two to more in depth education. I was comfortable all the way through the process. I was also grateful that since I did not finish it all in one session, when I came back to do more, it was right there waiting for me to resume where I left oft. To tell the truth, I think I trusted this process a lot more than I would have if we had had the money to meet with professionals who most likely had an agenda to finish us off as fast as they could so as to move on to the next client. Thank you Nolo for such a great public service. (Posted on 2/13/2018)